Sunmark Provides $2.8M Acquisition Loan For Office Building In Saratoga Springs

260 Broadway, located in Saratoga Springs, was recently involved in a loan transaction. The property, an office asset, was part of an acquisition that took place on November 28, 2022. The lender for this transaction was Sunmark, providing a loan amount of $2,800,000. The loan terms include an 80% loan-to-value ratio, a rate of 5.61%, a 10-year term, and a 25-year amortization.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $2,800,000
• Date: 11/28/2022
• Address: 260 Broadway
• Market: Saratoga Springs
• Lender: Sunmark

Colin Mitchell, representing SCOPE Capital Group, played a key role as the broker in this loan transaction. The landlord of the property is Capital Companies NY. The loan's acquisition was facilitated by Colin Mitchell, showcasing his expertise as a broker specializing in office assets.